What Happens Before Settlement?
Before settlement, whilst you are busying packing boxes and booking your removalist, we will be busy behind the scenes working to get your matter ready for settlement.
Once cooling off has expired your bank will prepare your loan documents. When your bank notifies you that the loan documents are prepared, you should take a break from all your packing and cleaning to sign these as soon as possible to avoid any unnecessary delays. You may wish to receive legal advice on these mortgage documents before signing them.
During this time there are a couple of things your solicitor will require from you:
- A completed purchaser declaration form that will allow us to pay your stamp duty.
- A PEXA authority.
- If you are a first home buyer we will also require forms for your exemption/ concession if you are eligible.
In getting your matter ready for settlement, we will prepare the settlement figures, calculate the available funds from your lender and provide you with the amount of additional funds (if any) required from you to complete the purchase. If we require any additional funds, these will need to be deposited into our trust account prior to settlement.
Should any questions arise during your pre-settlement period, please contact our office on 1300 444 529 and one of our solicitors will be happy to answer any queries you may have.